NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets

Bitcoin Price Crosses Under $10,000, What are Analysts Expecting Next?

Nick Chong
Nick Chong
1 year ago
3 mins read
Bitcoin Silver

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin has continued to crack under pressure. As of the time of writing this, BTC has dipped under the auspicious $10,000 price point, falling to four digits for the umpteenth time in a matter of weeks.

Related Reading: Analyst: Bakkt Could be a Huge Catalyst for Bitcoin; Is a Price Surge Inbound?

With this move lower, altcoins have surprisingly kept pace with the market leader. Ethereum, XRP, and other large-cap cryptocurrencies are trading pretty much in tandem with Bitcoin, losing close to the same value in terms of percentage.

Analysts suggest that if Bitcoin closes a daily or weekly candle under $10,000, which acted as a clear resistance level in May and June, BTC could fall further.

But where to exactly?

Bitcoin Could See Another 20% Loss

According to most analysts, a further correction from current levels will see Bitcoin stumble to at least $8,500. Per previous reports from this outlet, Chonis Trading, a popular cryptocurrency analyst, suggested that BTC could fill the CME futures gap at $8,500.

You see, the exchange does not open its futures market during weekends, so there are often large gaps in price action, especially if Bitcoin spikes or collapses significantly on Saturday or Sunday. Over the course of the past 10-odd weeks, the CME futures have been subject to many of these gaps, a good majority of which were filled two or three weeks later.

Some have been a tad more bearish, however. Crypto Kea, an analyst that focuses on the Mayer Multiple (price over 200-day moving average), wrote last week that should BTC follow in the footsteps of the last bull market’s first leg higher, it could find support anywhere from $7,148 to $8,700. This corresponds to 1.20 times to 1.46 times of the 200-day moving average, which then sat at $5,957.

Most likely, however, Kea notes that the “most probable target” as per the use of the Mayer Multiple will be $7,505 — another 25% drop from the current Bitcoin price of $9,900.

Basic technicals also suggest that Bitcoin is currently trading bearish. Per Bloomberg, the GTI Vera Band Indicator, which tracks upward and downward trends, is showing that BTC is trending in a “selling pattern”.

Related Reading: Bullish For Bitcoin? Trump Turns Up Pressure on Federal Reserve to Cut Interest Rates

Not All Hope is Lost

Bitcoin may have some saving graces, however. Case in point, the New York Stock Exchange-backed Bakkt has begun testing its Bitcoin (BTC) futures contract.

While this has been marketed as a seemingly mundane “user acceptance testing” phase, this launch has been met with much hurrah from every corner of the cryptocurrency community.

This contract is physically deliverable, meaning that the purchasing of a future contract grants the purchaser access to actual coins. Unlike the futures product from the CME, which pays out its holders in cash, owners of Bakkt’s product actually get the “physical” BTC. This means that the futures market will have a more tangible effect on the spot price of Bitcoin.

With buy-side volume for the CME’s BTC futures contracts only hitting record highs month-over-month, it can be assumed that institutions are leaning long on Bitcoin.

Should the Bakkt contract see similar demand, BTC will be taken off the spot market and held in custody for contract holders, which should theoretically lead to price appreciation.

Featured Image from Shutterstock
Tweet123Share236ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin aproape de 120.000$ – vine un nou ATH?

După ultimul ATH de la mijloc de august, când Bitcoin a atins 124.500$, a urmat o corecție ce a venit...

antonio 6 hours ago
Ethereum

Ethereum (ETH) Mirrors 2021 Price Action As Bulls Target $10,000 By 2026

Ethereum remains one of the most controversial tokens in the present market cycle, considering its status as the second-largest cryptocurrency...

Semilore Faleti 9 hours ago
altcoins, bull run, altseason, trump crypto, crypto verwachting

Altcoins trekken miljarden na Fed cuts – altseason staat voor de deur

Nu bekend werd gemaakt dat de Federal Reserve renteverlagingen door gaat voeren, vonden er een aantal interessante ontwikkelingen plaats binnen...

Lars Diederiksen 11 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Bitcoin Price On The Verge Of Explosive Move: Here’s The Only Condition

Opeyemi Sule 1 hour ago
Ethereum

BlackRock Leads Spot ETH ETF Inflows With Over $500M, Ethereum Possibly On Track To $5,000

Scott Matherson 3 hours ago
Ethereum

Ethereum Taker Buy-Sell Ratio Falls Critically Low—What Happened Last Time?

Opeyemi Sule 5 hours ago

Premium Sponsors

Press Releases

  • パイネットワーク...

    1 day ago
  • Cele mai bune altcoin-uri de cumpărat, pe măsură ce prețul Solanei se apropie de maximul istoric

    Cele mai bune altcoin-uri de cumpărat, pe măsură ce...

    1 day ago
  • Cele mai bune meme coin-uri de cumpărat acum, pe măsură ce capitalizarea pieței se apropie de 1,9 trilioane RON

    Cele mai bune meme coin-uri de cumpărat acum, pe măsură...

    1 day ago
  • Cele mai bune meme coin-uri de cumpărat acum, pe măsură ce capitalizarea pieței se apropie de 1,9 trilioane RON

    Nejlepší meme coiny k nákupu nyní, když se tržní...

    1 day ago
  • Cele mai bune altcoin-uri de cumpărat, pe măsură ce prețul Solanei se apropie de maximul istoric

    Nejlepší altcoiny k nákupu, když se cena Solany...

    1 day ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.